Citywealth Leaders List, 60 seconds interview – Malky Chaloner, DMH Stallard
This week’s 60-second Citywealth Leaders List interview is dedicated to Malky Chaloner, private client partner and chartered tax advisor at DMH Stallard.
Tell Citywealth readers a bit about your role.
Like most lawyers, we start our day looking at our emails. I do try to have a list of what I want to achieve in a day, some drafting, replying to emails, client phone calls, team calls, in person meetings or home visits. No two days are the same as I also have the privilege of training and developing other members of my team, which I love. So, I always try to make time for clients, checking documents and learning alongside them.
Tell us about some recent, interesting client instructions/requests you have received.
Every client is interesting as every life and family life has nuances that require exploring. However, including clauses in wills to provide for pets is always interesting as you sometimes don’t expect a client to have a house full of them!
What challenges do your clients face and how are you helping your clients to overcome them?
Blended families and how to distribute wealth between children from previous relationships, providing for new spouses and children can be challenging. Discussing the options that are available and how they potentially may play out as well as understanding the value of lifetime gifting and not only in wills, always helps to see the bigger picture. I find that explaining in simple terms what the consequences are of different legal avenues helps clients navigate what they want, with what they might need or feel comfortable with. It is also important to stress that family circumstances and relationships change over time, matters that we are happy with today, usually need to be reviewed every 3-5 years to consider any changes in circumstances as well as legal and tax changes.
What is your proudest professional achievement?
I think completing my ATT and CTA qualifications with the Chartered Institute of Taxation whilst working and raising 3 small children was really challenging, when tax and numbers were not really my strength and I was in a room full of accountants almost half my age whilst trying to navigate tax legislation.
What do you consider to be the most important attributes for a leader?
Being able to share knowledge with kindness and guide others to develop their own style, grow and progress in their careers.
Who do you most admire and why?
I admire all working parents that share the juggling act of work/life balance with more joy and less guilt at the same time as really enjoying their careers.
Where was the last place you travelled to for work or pleasure?
Italy. I had not been there since I was 19 and wow, it was just amazing!
If you weren’t in this industry, what else might you be doing?
I always liked Chemistry when I was at school, but I never explored it further and actually really love what I do.
How do you relax after a long day?
I love going for walks, rain or shine, even late at night when the rest of the city street is asleep and I can see the stars and just hear the slow hum of life. But I am partial to a good book, a bath, a good chat with a friend or an outdoor swim!
If you could recommend one person in the private wealth industry who would it be, and what would you say about them?
I have had amazing people that I have had the privilege of knowing or working alongside in this industry. However, as I need to choose one then I would recommend Claudia Roberts, the partner who took the risk of saying yes to offering me a training contract and changed my life. She has always been extremely generous with her time, shares her knowledge, encourages growth and development and also never takes herself too seriously. She is extremely knowledgeable, approachable, honest, kind and for me, she is still one of the most brilliant private client lawyers I know.
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